As time progresses and trends shift, businesses need to adapt to changing environments. On average, corporate businesses rebrand themselves every seven to ten years, and there are a variety of factors which may spur the decision.
Let’s take a look at some of the most common reasons that companies may choose to rebrand:
- New product launch
- Company mission changed
- Customer needs changed
- Stand out from competition
- Bad reputation
- New management
It’s a common misconception to believe that a new logo is all it takes to rebrand – that’s certainly not the case. Rebranding goes beyond the design and involves some of the same practices that brands start with when launching their business.
Initially, you have to get your rebranding strategy down – position your communications, language, messaging, and then, let design do the talking!
While there is no one right or wrong way to rebrand, there are valuable best practices and pitfalls to avoid. Here are a few to keep in mind:
Health Check: Take an assessment of what’s working and what’s broken. A brand audit will help you see where the cracks are and allow you to prioritize the necessary changes.
Research Your Industry: Successful businesses satisfy their customers. Understanding your industry and its trends is a surefire way to know what customers are seeking and the problems you can solve.
Involve Your Team: Rebranding should not be siloed to the marketing team alone. Involving your entire team is an important part of the process because it opens the door to more ideas and also empowers employees to believe strongly in the mission they help create.
Don’t Focus on Competition: Your competition plays an important role in understanding the market and how you can differentiate your business from others, but it shouldn’t be the sole driver of your decisions during a rebrand. Always put your business and goals first and go from there.
Don’t Ignore Your Customers: Market research, and research again. It’s much cheaper to retain existing customers than acquire new ones, so be sure to leverage their relationship with your brand for feedback on what you can do better.
Don’t Hold Onto the Past: Once you’ve publicized the move forward, fully let go of the old branding. Don’t roll it out slowly. Simply hit the ground running with confidence to establish your new facelift in the market. Make it holistic across all customer touch points so that the branding is consistent.
An Example: Coca-Cola Does It, Again
In 2018, Coca-Cola rebranded in North America to satisfy changing consumer demands. The number one soda company launched in 1982, but this year, it felt it was necessary to add some new flavors to the scene. To attract a millennial audience that favors an affinity for great-tasting flavors and experiences, that’s exactly what the company did, and at the same time, they redesigned the classic 12 oz. coke can in a slim fit rendition.
In order to make this rebrand happen, Coke followed one of the big “Do’s” and spoke to 10,000 people across the country for feedback. Combined with consumer trend reports, Coke’s team tested 30 different flavors, and ultimately brought four new flavors to the market, namely Ginger Lime, Feisty Cherry, Zesty Blood Orange, and Twisted Mango. James Sommerville, vice president, Coca-Cola Global Design said, “This visual evolution elevates the brand to a more contemporary space, while still using at its foundation the recognizable core brand visual assets.”
The design team worked with the marketing team to create a robust campaign to introduce the brand’s new personality to the market. With such an iconic brand, the goal was to retain long-standing loyal customers, all the while attracting a younger generation of drinkers who seek adventure and flavor-infused food and beverages.
Coke researched its industry (although as a market leader, it probably knows a thing or two about the food and beverage world), involved many players on its team, really questioned its audience, and when it was ready to launch the new products, Coke went forward full throttle with its campaign.
Considering a Rebrand?
If your business is considering a rebrand to freshen up its look, solidify a new standard, or satisfy shifting consumer needs, look no further. Our expert team of designers, animators, copywriters, and marketing experts can help position and communicate your place in the market.
Reach out and say hello!